Measuring Econ Performance

Front

If Jill lost her job because the company she works for has been losing money for the last three quarters, this is an example of

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Cyclical unemployment

Front

Economist believe that unemployment level is

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understated

Front

What does the CPI measure?

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Price level

Front

Which of the following situations would have a positive impact on GDP for the United States? An increase in the production of Canadian chairs, A decrease in foreign trade, An decrease in quotas, An increase in domestic consumption spending

Back

An increase in domestic consumption spending

Front

In the equation GDP =C+I+G + X, X stands for

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exports minus imports

Front

Which of the following definitions best represent what intermediate goods are?
- goods used in the production of other goods
- goods that are not sold or exchanged in an economy
- goods that were sold in earlier years
- goods that are produced outside the country

Back

goods used in the production of other goods

Front

Why is the official unemployment rate not an accurate assessment of unemployment?

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Discouraged workers are not accounted for.

Front

What type of unemployment is it when you quit your job at a supermarket due to dissatisfaction with your wage and begin looking for a new job at a competing grocery store?

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Frictional

Front

Which of the following individuals is classified as unemployed? A fifteen-year-old high school student who is looking for a babysitting job, A laid-off computer programmer who had given up looking for a new job, A parent who works in an after-school day care center 15 hours a week, A recent college graduate who is looking for her first job

Back

A recent college graduate who is looking for her first job

Front

One of inflation's effects on the economy is

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decreasing the value of the dollar